Market Expert Predicts Bitcoin Price of $150,000 by August 2024
Market expert sets Bitcoin price for August 2024
Bitcoin (BTC) is once again flirting with the possibility of reclaiming a new record after successfully breaching the $65,000 resistance mark.
As the maiden cryptocurrency seemingly benefits from the euphoria around the latest United States inflation data, technical indicators suggest that a new record high for Bitcoin is on the horizon.
Particularly, in a TradingView post on May 16, crypto trading expert TradingShot suggested that Bitcoin might be in line to clinch the $150,000 target by August 2024.
Technical levels to watch out for
- Bitcoin rebounded on the EMA Ribbon, after making a new All Time High (ATH).
- Recovery of the Mayer Multiple SD1 indicates positive momentum.
“Based on that, the next Target on this run is $150,000,” the expert said.
Bitcoin’s breakout inevitable
Another crypto expert, Michaël van de Poppe, suggested that an upwards trajectory for Bitcoin was inevitable based on its recent recovery.
Renewed confidence in Bitcoin is expected to positively impact altcoins as market sentiment shifts.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.